Guardant Health, Inc. (NASDAQ:GH) Short Interest Update

Guardant Health, Inc. (NASDAQ:GH) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 13,690,000 shares, an increase of 20.6% from the September 15th total of 11,350,000 shares. Based on an average daily trading volume, of 2,250,000 shares, the short-interest ratio is currently 6.1 days.

Guardant Health Stock Performance

Shares of GH traded down $0.06 during trading hours on Monday, reaching $21.34. 1,128,911 shares of the company’s stock traded hands, compared to its average volume of 2,078,135. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -5.50 and a beta of 1.11. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. Guardant Health has a twelve month low of $15.81 and a twelve month high of $37.04. The business’s fifty day simple moving average is $25.59 and its two-hundred day simple moving average is $25.51.

Guardant Health (NASDAQ:GH) last announced its earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. During the same period in the previous year, the firm earned ($0.67) EPS. Guardant Health’s revenue for the quarter was up 29.2% on a year-over-year basis. Analysts predict that Guardant Health will post -3.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GH. TD Cowen increased their price target on Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Craig Hallum boosted their price target on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. BTIG Research upped their target price on Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, UBS Group increased their target price on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.67.

Hedge Funds Weigh In On Guardant Health

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Guardant Health during the second quarter valued at about $44,000. Canton Hathaway LLC purchased a new stake in Guardant Health during the second quarter valued at about $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Guardant Health during the second quarter valued at about $71,000. Byrne Asset Management LLC purchased a new stake in Guardant Health during the second quarter valued at about $77,000. Finally, Manchester Capital Management LLC purchased a new stake in Guardant Health during the first quarter valued at about $57,000. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.